The PGA Golf Tour enters the NFT space in a move that will create additional revenue streams for players.
This innovative move comes as the metaverse expands and numerous sports leagues and corporations explore how to join the space. The PGA Tour strikes several deals to make this endeavor possible.
PGA Tour enters the NFT space with Sorare and Autograph
Golf.com first announced the Golf NFT news. Golfers were first made aware of the NFT project in December and the Tour has been making preparations ever since.
Specifically, players must “opt in” to make the most of the new NFT economy. In fact, the NFT project cannot take place until a certain number of tour players agree to participate.
So far we know that the PGA Tour is signing deals with two giant NFT platforms, Sorare and Autograph. Sorare is the hugely popular NFT card fantasy football trading game that has already partnered with numerous leagues. Now it will use the same system for golf.
PGA Tour will also be collaborating with Autograph for the NFT collection. Autograph, created by Tom Brady, allows tour-licensed highlights and data to be used to develop unique NFTs.
This exciting new venture for golf and the NFT economy will bring new fans to the sport. Payments are based on FedEx Cup ranking and they receive royalties on NFTs.
Significantly, the NFT Collection guarantees an income to PGA Tour players who choose to participate and offer their name, likeness and likeness.